Phuthuma Nhleko set to stay on at MTN to sort out Nigeria

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Phuthuma Nhleko will stay on as interim executive chairman of MTN. He took temporary charge of Africa’s biggest mobile phone operator last year on 9 December after Sifiso Dabengwa resigned over a $5.2 billion (over R74 billion) fine imposed by the Nigerian authorities.

“He will stay on until he fulfils his mandate,” Chris Maroleng, MTN’s spokesperson told Reuters.

However, the mobile phone giant said in its 2015 integrated annual report that it envisaged the appointment of the new CEO would be made by the end of June.

Dabengwa left the mobile phone operator after a $5.2 billion (over R74 billion) fine imposed by the Nigerian authorities for failure to register subscribers, resulting in the telco losing R75 billion ($5.4 billion) of its market value.

The company appointed Phuthuma Nhleko as an executive chairmain on an interim basis – from 9 November 2015 to 9 May 2016.

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